Shore Capital Group plc has expanded its alternative assets fund management business with the appointment of a Director of Alternative Investments.
Stuart MacDonald, former Director of Hedge Funds at Henderson, has been appointed to grow Shore Capital's alternative assets business.
At Henderson, he was instrumental in the development and growth of the company's USD 2 billion single manager hedge fund business. Prior to this, he worked at West Merchant Bank and Buchanan Partners.
Stuart's brief at Shore Capital is to build on the success of the company's diversified USD 1 billion-plus alternative asset management business, with a particular focus on hedge funds.
Shore Capital launched the multi-manager Puma Absolute Return Fund in May 2003 (up 31.5% in sterling terms since launch and 13.8% in the 12 months to 31st January 2006) and launched its first single manager fund Puma Theta in October 2005.
'What attracted me to Shore Capital was its reputation for innovation, plus excellent fund management performance across a wide range of types of funds, including property and development capital as well as hedge funds,' says MacDonald. 'Shore Capital has a track record and an infrastructure which can be used to develop a much larger business.'
Howard Shore of Shore Capital adds: 'We are delighted to welcome Stuart to the firm. We have been good at developing innovative and successful funds and I am sure Stuart can help us exploit this.'
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